Consumer Products

Tupperware profit rises, but outlook deemed a miss

TessStynes

Tupperware Brands Corp.
TUP, -0.22%
said its fourth-quarter earnings rose 20% as sales improved in emerging markets, offsetting weakness in established areas, but the company offered an outlook below consensus estimates.

Emerging markets have been a key driver of the company's sales, offsetting the company's established markets in North America and Europe where sales often have lagged. Tupperware is known for its brightly colored food-storage containers, among other products, that are sold in nearly 100 countries.

The company forecast per-share earnings for the year of $5.51 to $5.66 and sales between flat and growth of 2%. Analysts polled by Thomson Reuters expected per-share profit of $6.02 and revenue growth of 4% to $2.8 billion.

For the current quarter, the company forecast per-share earnings of $1.13 to $1.18 and a sales decline of 1% to 3%. Analysts expected per-share profit of $1.27 and revenue growth of 2% to $676 million.

The company's board approved a 10% increase in the quarterly dividend to 68 cents a share.

Tupperware reported a profit of $89.7 million, or $1.74 a share, up from $74.5 million, or $1.34 a share, a year earlier. Excluding items, earnings were $1.81.

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